NFT art, which has become a hot topic in recent years, has received a lot of attention, but it has also been criticized. There are many highly valuable NFT arts, but it is said that there are also quite a lot of worthless works.
What are NFTs?
NFT is an abbreviation for “Non-Fungible Token”. It has the meaning of a non-fungible token, and anyone can sell it, and you can buy and sell it without any difficulty without any difficult knowledge about blockchain. When NFTs are resold, the creator will receive compensation. Interest in NFTs has been increasing in recent years, especially among young people, as they lead to long-term profits for creators. If you log in to Bybit, you can see a list of NFT information. From around 2022, the number of people starting NFT has increased due to the influence of news and blogs. We are now entering an era where those who are starting to do it themselves have the possibility of becoming artists by exhibiting and presenting their work on the Internet.
What is NFT Art?
NFT art is a digital art work that has unique value by utilizing NFT. Digital art is art created using digital devices, such as illustrations, paintings, videos, games, and music.
Until now, digital art can be easily duplicated or altered, making it difficult to create asset value. However, with the emergence of a new technology called NFT that utilizes blockchain, it has become possible to add unique value to digital art in the same way as traditional paintings and sculptures.
disgusting work
NFT art is not necessarily created by a professional artist. A lot of amateur works are appearing, so there are a lot of art works created by amateurs. As a result, many low-quality works are mass-produced, and there are also many disgusting and low-quality works. Although rights income can be expected, if the image and expression are not received well, the creator will not be able to make a living in the future. In the past, there were many people who took action at events and sent out messages.
Why NFT art is called garbage
There is so much NFT art out there right now that you can see it. In terms of the number of works, countless works have been released over the past few years, so there are many opportunities to see them, so you may be interested in them. However, most of the works are of no value and are considered trash. Why is that? If you like it and are interested in its activities, please use it as a reference when thinking about it. There are many disadvantages when starting out.
Lower quality than AI works
NFT art has no value as a work of art. It’s a digital work, not an analog one. It is also said that AI will eventually surpass humans. It is said that the rise of AI will easily surpass the current quality of digital artwork. In other words, most of the digital art that is out now is said to be worthless. It is said that 99% of my current works are low quality and garbage.
Legal development
Virtual currency and NFT are the same, but the legal development is not progressing at all. The law won’t protect you if something goes wrong. Since the legal system has not progressed at all, there is a question mark as to how much protection will be provided, and even from a consumer perspective, not many people will buy it.
hacking risk
There is a hacking risk as a problem of NFT art. When you make an NFT transaction, you will pay from a virtual currency wallet called a wallet. However, in recent years, there have been quite a few incidents of this wallet being hacked. Virtual currency exchanges are also working out countermeasures, but the incident itself is happening frequently, so it is a cause for concern.
price volatility
The NFT market has been booming and crashing in recent years. This happened in just a few years, so the price fluctuations are extremely high. Even if you buy NFT art, you won’t be able to get your hands on it if you think that there is a risk of a crash afterwards. There are an increasing number of cases where investors do not touch the NFT market.
Characteristics of high-quality NFT art works
It is said that 99% of other people’s NFT art is disappointing garbage, but on the other hand, there are also works that are not such garbage. This includes works with the following characteristics: If this is your first time and you have no experience, please take the following into consideration when making decisions about your future involvement. It is a big factor, and if you suppress this, it will become popular and you can become an expert. Once you become famous, you will be able to receive official commissions.
rarity
Some of the NFT art has brought rarity. Those who provide added value to the work are recommended. For example, there are special offers and discounts, and there are purchaser-only services. With such benefits, the value of NFT art will increase.
resale
Resellers are also appearing on the NFT boom. Resellers are generally disliked, but they are helping to revitalize the NFT market. The advantage of NFT resale is that it will be a digital asset, so there will be no fixed costs. Since the market is still developing, it is said that profits can be increased in the future.
Bybit’s NFT Marketplace
Bybit has an NFT marketplace. If you open an account when you have time, illustrators can actually enter and do business with you, so you can try your hand at a project. It depends on the time of year, but many users today start with photos.
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